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Victorian median house prices rose over 2014

By Jamil Allouche

The latest Bankwest First Time Buyer Deposit report has offered some insight into the growing Victorian property market, with the median price across the state rising by 7.1 per cent over the last year. This could offer some incentive for owners of property in Brunswick to look into selling their homes in the near future. 

More specifically, median prices in Melbourne have grown by 8.3 per cent over the last 12 months – and a huge 28.1 per cent over the last five years. Bankwest Head of Specialist Banking Ian Rakhit said these results could be great news to investors building a portfolio in the city, especially with the current low interest rate environment stimulating growth. 

"Victoria has the highest level of population growth compared to other states, which has a direct impact on housing demand and affordability. When you combine this with comparably high levels of state final demand, you can expect the housing market to intensify," said Mr Rakhit in a 19 December statement. 

With the market growing in strides – and the anticipation that these low interest rates will stay into the new year – now could be a great time to consider selling your home and securing a great return on your investment. 

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